Montek To Hear Sebi Related Cases

The appellate will become functional from November 1, 1996. This should take care of the pile of cases that have not been heard since Banerjee was removed a month ago.

Prominent among the cases is the Skyline-NEPC appeal before the appellate. The Khemkas have appealed against Sebis rejection of its takeover bid of ModiLuft.

Banerjee had held several rounds of hearings and the case was near completion but had to be put on hold onf account of the non-availability of an appellate.

Among the noteworthy disputes settled under Banerjee has been the SBI Caps appeal against Sebi in the MS Shoes East case, in which the appellate ruled in favour of the merchant banker.